Are Smart Investors Making the Right Decision? Empire State Realty Trust Inc. (ESRT)

Empire State Realty Trust Inc. (NYSE: ESRT) stock fell -1.92% on Friday to $7.17 against a previous-day closing price of $7.31. With 1.04 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.14 million shares. During the session, the REIT – Diversified company that operates in wider Real Estate sector, reached to the highest price of $7.43 whereas the lowest price it dropped to was $7.10. The 52-week range on ESRT shows that it touched its highest point at $11.07 and its lowest point at $6.53 during that stretch. It currently has a 1-year price target of $8.35. With its current market cap of 1.13 billion, ESRT has annualized dividend of $0.14 while the current yield stands at 1.95%. Beta for the stock currently stands at 1.12.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ESRT was down-trending over the past week, with a drop of -1.10%, but this was down by -1.92% over a month. Three-month performance surged to 3.02% while six-month performance fell -27.36%. The stock lost -26.23% in the past year, while it has lost -19.44% so far this year. A look at the trailing 12-month EPS for ESRT yields -0.02 with Next year EPS estimates of 0.18. For the next quarter, that number is 0.06. This implies an EPS growth rate of 35.00% for this year and 260.00% for next year. EPS is expected to grow by 1.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -16.70%.

Float and Shares Shorts:

At present, 167.12 million ESRT shares are outstanding with a float of 162.47 million shares on hand for trading. On Jul 14, 2022, short shares totaled 12.56 million, which was 7.50% higher than short shares on Jun 14, 2022. In addition to Mr. Anthony E. Malkin as the firm’s Chairman, CEO & Pres, Ms. Christina Chiu serves as its Exec. VP & CFO.


Institutional Ownership:

Through their ownership of 97.31% of ESRT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.44% of ESRT, in contrast to 38.20% held by mutual funds. Shares owned by individuals account for 18.61%. As the largest shareholder in ESRT with 13.69% of the stake, The Vanguard Group, Inc. holds 22,259,998 shares worth 22,259,998. A second-largest stockholder of ESRT, Southeastern Asset Management, In, holds 14,217,772 shares, controlling over 8.74% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ESRT, holding 10,228,299 shares or 6.29% stake. With a 5.96% stake in ESRT, the Longleaf Partners Small Cap Fund is the largest stakeholder. A total of 9,695,900 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 4.06% of ESRT stock, is the second-largest Mutual Fund holder. It holds 6,595,841 shares valued at 45.97 million. Vanguard Total Stock Market Index holds 3.07% of the stake in ESRT, owning 4,988,067 shares worth 34.77 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ESRT since 8 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ESRT analysts setting a high price target of $10.25 and a low target of $5.50, the average target price over the next 12 months is $8.35. Based on these targets, ESRT could surge 42.96% to reach the target high and fall by -23.29% to reach the target low. Reaching the average price target will result in a growth of 16.46% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ESRT will report FY 2021 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $0.64 being high and $0.64 being low. For ESRT, this leads to a yearly average estimate of $0.64. Based on analyst estimates, the high estimate for the next quarter is $0.15 and the low estimate is $0.15. The average estimate for the next quarter is thus $0.15.

Summary of Insider Activity:

Insiders traded ESRT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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